Salarius Completes Oversubscribed Crowdfund

RNS Number : 2491X

Tekcapital plc

04 January 2022

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

4 January 2022

Tekcapital Plc

("Tekcapital", the "Company" or "the Group")

Portfolio Company Update: Salarius, Ltd. ("Salarius")

MicroSalt Inc. completes oversubscribed Crowdfund

Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products from investing in university technology that can improve people's lives, is pleased to announce that Salarius' U.S. subsidiary MicroSalt Inc  (MicroSalt) has completed an oversubscribed Reg CF Crowdfund, having achieved its goal of $750,000. 

About Salarius Ltd. and MicroSalt, Inc.

Salarius, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving people's lives by providing the best low-sodium salt. MicroSalt, Inc., Salarius' U.S. operating subsidiary, aims to revolutionize the food industry with its patented better-for-you salt, that delivers the full-flavour experience of salt with roughly half the sodium. MicroSalt® is all-natural, non-GMO, and Kosher. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavor consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc. To learn more about MicroSalt please visit https://www.microsaltinc.com/. To learn more about SaltMe! snacks please visit https://saltme.com/.

Tekcapital owns 97.2% of the share capital of Salarius Ltd. and approximately 76% of the share capital of MicroSalt Inc., its U.S. subsidiary. The current post-money valuation of MicroSalt Inc. is ~U.S. $5.75m.

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com .

LEI: 213800GOJTOV19FIFZ85

For further information, please contact:

Tekcapital Plc		Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel  Corporate Finance LLP  (Nominated Adviser and Broker)		[phone]
Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (Corporate Broking)

Flagstaff Strategic and Investor Communications     [phone]

Tim Thompson/Andrea Seymour/Fergus Mellon 

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Salarius that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Salarius' and/or Tekcapital's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Salarius or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Salarius nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

 

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